Report

(28 October 2014, Seoul) – Today, at the World Federation of Exchanges’ (WFE) General Assembly in Seoul, Korea, Chairmen and Chief Executives from more than 50 of the world’s leading exchanges gathered to make a number of important decisions for the future of the organization. The annual Assembly represents the largest and most widely attended gathering of global exchange leaders.

BATS Global Markets, Bahrain Bourse, Euronext and The Nigerian Stock Exchange accepted as members at the 54th Meeting in Seoul

LONDON (30 May, 2014) — The World Federation of Exchanges, the global trade association of publicly regulated exchanges, today announced the appointment of Ms Nandini Sukumar to the position of Chief Administrative Officer.

WFE announced today the launch of the exchange industry’s first cyber security committee with a mission to aid in the protection of the global capital markets. The working group will bring together representation from a number of exchanges and clearinghouses across the globe, to collaborate on best practices in global security. The Cyber Security Working Group will be chaired by Mark Graff, Chief Information Security Officer, NASDAQ OMX and vice-chaired by Jerry Perullo, Vice President, Information Security, IntercontinentalExchange (ICE).

At the WFE General Assembly in Mexico City, the WFE delegates have made a landmark decision to approve moving the WFE’s headquarters from Paris to London. The move to London will be envisaged by the end of 2013.

(Paris, September 23, 2013) - The World Federation of Exchanges (WFE) announced today that the 2013 WFE Award for Excellence will be awarded to Professor Robert C. Merton, MIT Sloan School of Management, and Professor Myron Scholes, Stanford Graduate School of Business and the late Fischer Black, former Director of the Quantitative Strategies Group at Goldman Sachs, in recognition of their development of the groundbreaking Black-Scholes Model in 1973.

PARIS (January 23, 2013) –The World Federation of Exchanges’ (WFE) annual survey of global markets found that while the global market capitalization increased 15.1% in 2012 , the volume of all products traded on WFE member exchanges fell significantly. According to statistics compiled by the WFE, the value of Electronic Order Book (EOB) share trading was down 22.5%, and the number of derivative contracts traded on-exchange worldwide decreased by 20%.

“We appreciate our members commitment to helping us compile our Annual Market Statistics, as we believe it is important to offer a true, objective picture of the current state of on-exchange trading worldwide,” said Hüseyin Erkan, CEO of the WFE. “Our 2012 Global Market Highlights offers the most comprehensive series of data covering a large range of exchanges’ activities, allowing for a more detailed approach of markets.”

According to the WFE figures, which are gathered from WFE member exchanges, the number of listed companies remained stable in 2012, while both ETFs and securities derivatives increased their listings. Specific 2012 highlights from WFE are as follows:

(15 October 2012, Taipei) Today the General Assembly of the World Federation of Exchanges (WFE) approved new statutes that alter the structure of the organization from a secretariat to a corporate body. Chairmen and Chief Executives from more than 50 of the world’s leading exchanges gathered in Taipei this week for the 52nd WFE General Assembly and Annual Meeting and officially ratified a new structure for the organization. This assembly represents the largest and most widely attended gathering of global exchange leaders.

World Federation of Exchanges (WFE), the global trade association of publicly regulated exchanges, today announced the appointment of Mr. Hüseyin Erkan to the position of Secretary General. Until recently Mr. Erkan served as Chairman and Chief Executive Officer of the Istanbul Stock Exchange, a post he was appointed to by the Turkish Government. Mr. Erkan has approximately 23 years of experience in the financial sector of which 16 years have been with the Istanbul Stock Exchange. Mr. Erkan was a member of the WFE Board of Directors between 2008 - 2011.

Equity volumes in 2011 remained stable despite a fall in market capitalization, while derivatives, bonds, ETFs, and securitized derivatives continued to grow strongly, according to figures released today by the World Federation of Exchanges (WFE). WFE statistics are culled from WFE member exchanges, which continued to increase their listings and diversify their product offerings in 2011.

Johannesburg (13 October 2011) – The World Federation of Exchanges (WFE) at its 51st General Assembly and Annual Meeting in Johannesburg commended the Tokyo Stock Exchange and The Egyptian Exchange for their markets’ efforts to remain operational during the turbulence affecting both countries in 2011. WFE saluted the Tokyo Stock Exchange and The Egyptian Exchange for observing scheduled trading sessions and representing the strength of their respective countries in the face of adversity. Their understanding of the important role of international markets in an environment where cross-border trading has become ubiquitous tracks closely with the mission of the WFE to bring the world’s regulated exchanges together in order to improve the quality of markets.

(12 October 2011, Johannesburg) Leaders from more than 60 of the world’s foremost exchanges gathered in Johannesburg, South Africa, this week for the 51st General Assembly and Annual Meeting of the World Federation of Exchanges (WFE), the association of regulated stock, futures, and options exchanges. WFE develops and promotes high regulatory standards in markets to assure their transparency, fairness, and certainty of execution.

Paris (6 December 2010) –Leaders from the World Federation of Exchanges (WFE) expressed concern about continued high risk in today’s the over-the-counter (OTC) derivatives market, and costs to the banking sector necessary to bridge an estimate $2 trillion shortfall for current market exposure.

(11 October 2010, Paris) Chairmen and Chief Executives from more than 68 of the world’s leading exchanges gathered in Paris this week for the 50th General Assembly and Annual Meeting of the World Federation of Exchanges (WFE ). This assembly represents the largest and most widely attended gathering of global exchange leaders.

Madrid (February 1, 2010) – The officers and members of the Board of Directors of the World Federation of Exchanges (WFE) today announced priorities for the year in which WFE celebrates its 50th anniversary. The WFE brings the world’s regulated exchanges together in order to improve the quality of markets.

Chairmen and Chief Executives from more than 50 of the world’s leading exchanges gathered in Vancouver this week for the 49th General Assembly and Annual Meeting of the World Federation of Exchanges (WFE). This assembly represents the largest and most widely attended gathering of global exchange leaders. The last meeting was held in Milan in 2008.

(Paris, 28 September 2009) The WFE Secretariat is pleased to announce the winner of the first annual WFE Award for Excellence, Prof. Robert A. Schwartz of the Zicklin School of Business at Baruch College, CUNY.

(Paris, 22 September 2009) The World Federation of Exchanges (WFE) Board of Directors urged leaders of the G20 nations at their upcoming summit in Pittsburgh, Pennsylvania (USA), to press for market reforms that enhance transparency and create more uniform rules between exchange-traded and less-regulated markets.

Views Article

Within a short period of time, Dubai Financial Market (DFM) has fast developed into the leading financial market across the region. Its ongoing efforts and strategic initiatives have further reinforced Dubai’s position as a dynamic capital markets hub. DFM has always played a pivotal role in developing the financial markets sector in the region through enormous innovations and electronic services utilizing the most advanced technology.

This month Kazakhstan Stock Exchange (KASE) is celebrating its 20th anniversary. Throughout 20-years of its history KASE evolved into the only licensed and regulated stock exchange in Kazakhstan with the following markets: foreign currency market, government securities market, market of shares and corporate bonds, bills and derivatives market.

The exchange opened for trading in May 1997, therefore we’re still a fairly young exchange. We are a fully electronic exchange, with a state of the art trading system (UTP) and a fully integrated central shareholders register. A significant part of the trading nowadays is conducted on-line. There are 42 companies listed, with a joint market capitalization of around $ 137 billion. Turnover in 2013 averaged at around $ 80 million a day.

HOSE is the leading stock market in Vietnam, currently accounting for 85% of total market capitalization. HOSE has attracted the most large-scale companies that represent the national economy. The products traded on HOSE include stocks, municipal bonds, corporate bonds and fund certificates. As of September 2013, there were 301 companies listed on HOSE, with a total market capitalization of almost USD 40 billion, an increase of 480% compared to year 2000. Besides, there were also 3 types of fund certificates and 39 bonds listed on HOSE. The respectively listed volumes were 26.4 billion shares, 126 million fund certificates and 72 million bonds. The average trading volume per day during quarter III/2013 was 49 million shares, equivalent to 45 million USD per day. The average turnover ratio was 42.05% during the first half of year 2013.

(15 October 2012, Taipei) Today the General Assembly of the World Federation of Exchanges (WFE) approved new statutes that alter the structure of the organization from a secretariat to a corporate body. Chairmen and Chief Executives from more than 50 of the world’s leading exchanges gathered in Taipei this week for the 52nd WFE General Assembly and Annual Meeting and officially ratified a new structure for the organization. This assembly represents the largest and most widely attended gathering of global exchange leaders.

I have the honor to serve as the new Secretary General of the World Federation of Exchanges since my appointment on June 18, 2012.

I am honored that the WFE Board of Directors has appointed me to this position recognizing my commitment to the principals put forward by the Federation. I have now become a producer of WFE services after many years of being a consumer of WFE services. The WFE is a very familiar environment for me, as I served on the Board of WFE, first as the Chairman of the Working Committee and then as a Director for four years. My goal is to expand and enhance the WFE’s services and advocacy for well-regulated exchanges, particularly during this period of rapid global economic transformation, and to lead the WFE in articulating the unified global exchanges’ viewpoint on issues relating to regulation in the industry. In order to maintain a high level of visibility for WFE initiatives, I will continue to facilitate coordination between the WFE members and the policymakers, regulators as well as the members of academia.

WFE today announced the appointment of Mr. Hüseyin Erkan to the position of Secretary General. Until recently Mr. Erkan served as Chairman and Chief Executive Officer of the Istanbul Stock Exchange, a post he was appointed to by the Turkish Government. Mr. Erkan has approximately 23 years of experience in the financial sector of which 16 years have been with the Istanbul Stock Exchange. Mr. Erkan was a member of the WFE Board of Directors between 2008 - 2011.

Exchanges in their current form can be traced back to Amsterdam, with the creation of an exchange to trade shares in the Dutch East India Company. An in 1652, it was this very company that established a trading post in the shadow of Table Mountain, changing the course of South African history, for better and for worse.

The World Federation of Exchanges is an association of excellence. Included, of course, is the Johannesburg Stock Exchange which in the latest global competitiveness report of the World Economic Forum, was once again placed first in terms of market regulation. In this context of excellence it is indeed an honour that the WFE should make me the recipient of an Award of Excellence in recognition of the work I have done in leading national commissions on Corporate Governance, especially the South African commission, and for driving forward integrated reporting which is better suited to the changed world in which we live. I acknowledge the role of the many I have led in the various commissions, the GRI and the IIRC in promoting the ideal of integrated reporting.

On March 11, 2011, the north-east region of Japan was struck by disaster on three fronts. The Great East Japan Earthquake was the most powerful to have hit Japan in its long history. The tremors subsequently triggered an extremely destructive tsunami, with the combined force causing severe and extensive structural damage along the coast and areas further inland. These damages resulted in problems at the Fukushima Daiichi Nuclear Power Plant, where radiological issues persist.

I currently have the honour and privilege of serving as chairman of the World Federation of Exchanges (WFE), as from the Federation’s 50th General Assembly in October 2010. I also would like to take this opportunity to thank our former chairman, William J. Brodsky for the leadership he provided us for the last two hectic years.

The old economic order, the recent financial crisis showed, was not sustainable. Developed countries were living beyond their means, and risk management measures across the financial chain with limited exceptions were inadequate to prevent the situation from worsening and eventually resulting in a systemic collapse that affected all of us.

On 15 January 2010, I will be retiring from HKEx. For many people, retirement represents a point when they are able to pursue their passion or things they have missed during their career. In my case, I am very fortunate that I have found my passion in the securities market. I have enjoyed going into work everyday – and challenges I have faced in the past 40 years have made my career more interesting and meaningful. I have also had tremendous privilege and pleasure of working with my global exchange peers at the Federation Internationale des Bourses de Valeurs (FIBV) and the succeeding World Federation of Exchanges (WFE). I have learned so much by working alongside with many of the world’s most brilliant minds.

This month, WFE celebrates the 200th issue of its monthly newsletter “Focus”. This article retraces the birth of “Focus”, and summarizes the Federation’s experiences in its attempts to disseminate member exchanges’ news through periodical publications.

News Article

(Paris, September 23, 2013) - The World Federation of Exchanges (WFE) announced today that the 2013 WFE Award for Excellence will be awarded to Professor Robert C. Merton, MIT Sloan School of Management, and Professor Myron Scholes, Stanford Graduate School of Business and the late Fischer Black, former Director of the Quantitative Strategies Group at Goldman Sachs, in recognition of their development of the groundbreaking Black-Scholes Model in 1973.

CBOE Holdings, Inc. (NASDAQ: CBOE) reported first quarter 2012 net income allocated to common stockholders of $32.9 million, or $0.37 per diluted share, compared with $32.1 million, or $0.36 per diluted share in the first quarter of 2011. Operating revenues for the first quarter were $121.4 million, down 2 percent compared with $124.0 million in the first quarter of 2011.